Oil Tanker Bridge

Shipowners Weigh Risks Amid Iran’s Hormuz Passage Proposal

Shipping companies are wary of navigating the Strait of Hormuz, despite Iran’s Revolutionary Guard Corps offering assurances of safe transit. Experts express skepticism, recalling past unfulfilled promises. The vital oil route’s potential closure could impact global prices, with gasoline hitting $4.50 a gallon. Formal safety confirmations are crucial before proceeding.

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